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Oklahoma State Lost $282M, Must Defer Sports Project

June 8, 2009
 

When T. Boone Pickens donated $165 million to Oklahoma State University in 2006 to build a state-of-the-art athletics "village," athletics boosters cheered and critics raised questions about priorities. Now the project is being deferred and still more money may be needed -- due to last year's Wall Street collapse. The money from the Pickens gift, along with some smaller gifts, had been in a special fund, and with investment earnings, its value was $407 million just prior to last year's investment drops. The Tulsa World reported that in a matter of weeks, the fund lost $282 million, forcing delays and more fund raising efforts before the project can get into full swing.

 
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